Brussels, April 10 Italy is likely to be removed
from the list of European Union countries with excessive budget
deficits as soon as May, the European commissioner for monetary
affairs said on Wednesday.
Speaking after issuing a report on macroeconomic imbalances
across the EU, Olli Rehn said the Commission's decision to work
with Italy to pay down debt owed to small- and medium-sized
companies would help reduce the government's deficit.
"This will facilitate the exit of Italy from excessive
deficit procedure, which I consider a very high probability once
we see the final figures in May in the context of our spring
forecast," Rehn told reporters.